SeaCrest Wealth Management LLC raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 328.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,866 shares of the bank’s stock after acquiring an additional 63,542 shares during the period. SeaCrest Wealth Management LLC’s holdings in Citizens Financial Group were worth $5,284,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new stake in shares of Citizens Financial Group in the 1st quarter worth about $27,000. Elevation Wealth Partners LLC boosted its stake in shares of Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after purchasing an additional 323 shares during the period. Virtus Advisers LLC bought a new position in Citizens Financial Group during the 2nd quarter valued at about $35,000. Keating Financial Advisory Services Inc. bought a new position in Citizens Financial Group during the 2nd quarter valued at about $35,000. Finally, Align Financial LLC bought a new position in Citizens Financial Group during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.
Citizens Financial Group Stock Up 0.5%
Shares of CFG opened at $65.22 on Friday. The firm has a fifty day moving average price of $67.30 and a 200-day moving average price of $67.22. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $27.47 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a 12-month low of $49.00 and a 12-month high of $75.33.
Citizens Financial Group (NYSE:CFG – Get Free Report) last announced its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. Equities research analysts expect that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.
Citizens Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio is presently 37.02%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. TD Cowen initiated coverage on Citizens Financial Group in a research report on Thursday, October 8th. They set a “buy” rating and a $75.00 target price for the company. Robert W. Baird upped their target price on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. reduced their price target on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.47.
Read Our Latest Analysis on CFG
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.
The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.
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